"I will market your HDB like private property!"

What does the Jurong Lake District really means for Bukit Batok Sellers or Buyers?

I find that a surprisingly large number of my clients are unsure about what the Jurong Lake District really means for them.

Sellers may go, "Yes, it was featured in the news... But it doesn't really affect us right? Since we're going to sell right now?"

Buyers typically say, "Yes, but this is future development. The government hasn't even built it yet."

When I sell a unit, I stress on future investment. When you buy a house, you do not just buy the interior of the flat, you also buy the facing, the location, the proximity to amenities, and - I'm not exaggerating - the future of Singapore.

This is especially obvious for PR buyers. I have had PR buyers share with me that they believe Singapore is a safe and good place to raise their kids, that they believe Singapore flat prices will surely rise because of the limited supply.

I think it's safe to say that when buyers choose a location over so many other choices, they already believe in "future investment" - that the government will pump in money to upgrade the estate, to build hospitals and other infrastructures, to build future MRTs, etc. All of us are buying into the hope that the location we have chosen will prosper.

No one would make an investment in a location that is stagnant, or worse, will deteriorate over the years, nor does anyone wish to make a loss. We are all optimistic that the value of Singapore's flats will increase, slowly but steadily in the future.

Another point is, buyers who look for own stay generally stay for at least 8 to 10 years before they start thinking of changing their environment, be it upgrading, downgrading, or even moving to another location altogether.

All of us who have moved houses before know what a hassle it is to go for constant viewings, the agonising wait for HDB 1st and 2nd Appointments, the headache of renovations, and the "joys" of packing and then unpacking all the stuff we have accumulated over the years! I reckon it's safe to say that no person would desire to repeat the whole process on a frequent basis.

Of course, this does not apply to buyers who are looking for investment by buying a unit to rent out.

Generally, most buyers with foresight will be looking at long term investment, at least 5-10 years. As the building progress develops on the Jurong Lake District project and it is featured more frequently in local news, the prices in the surrounding area will rise. I cannot stress enough to potential buyers who are cynical about this "future investment" - Buy now or regret later, please don't miss the boat!

I also wonder, will Jurong become a mini-Marina Bay? Will buyers be priced out in the Jurong prime area in future?

The surrounding towns like Bukit Batok, Bukit Panjang, and Choa Chu Kang are also worth notice in my opinion. If one day buyers or tenants are priced out of the Jurong Lake District, they may jolly well look for more affordable alternatives nearby.

As such, even if you as a homeowner does not intend to sell at this point in time, you should be in a prime position to take advantage of the "ripple" effect in future.

URA Master Plan 2008 for Jurong Lake District

Source: URA's Master Plan 2008 for Jurong - http://www.ura.gov.sg/MP2008/Jurong

Get ready for transformation

Jurong East, together with Jurong Lake, offers an exciting opportunity to be developed into the biggest lakeside destination for business and leisure in the West Region. The two areas will be known as the new Jurong Lake District.

Centrally located in the West Region, which houses a quarter of Singapore's population of 4.2 million, the 360 ha Jurong Lake District is well connected to the CBD (about 20 minutes), Tuas Second Link and rest of the island.

It also has ready access to a large talent and labour pool. The nearby Jurong and Tuas Industrial Estates support global businesses ranging from biotechnology to pharmaceutical and chemical industries. There are more than 3,000 MNCs and SMEs operating in these areas.

Jurong Lake District will be developed through four key strategies:

• Develop Jurong East into a major commercial hub

• Lakeside - Create unique new leisure destinations

• Enhance connectivity between Jurong Gateway and Lakeside and bring the lake closer to the centre

• Retain and introduce more greenery to enhance green experience

Spread over 290 ha, residents and visitors can look forward to new parks, improved promenades, more water activities and numerous attractions blended in with the scenic lakeside setting:

Lakeside - New waterfront playground with more green and thrills by the lake

• Enjoy more of the beautiful lake with a new park at the western edge of Jurong Lake, near Lakeside MRT station, and an enhanced waterfront promenade

• Treat yourself to fun water activities like kayaking and dragon boating in the lake

• Chill out by the lake - shop, wine and dine in a new charming lakeside village where Lakeside and Jurong Gateway precincts meet

• Get set for new attractions and fun around the lake - for example, explore the new world class Science Centre to be located next to Chinese Garden MRT Station

Jurong Gateway - New business location by the lake

Jurong Gateway will become a key commercial hub in the West Region. Identified as one of three regional centres under the Concept Plan, it is part of URA's decentralisation strategy to provide jobs closer to homes, and business hubs outside the city centre.

Centred around Jurong East MRT station, and right next to the established International Business Park, it offers an attractive business location for company headquarters, business services and science and technology sectors. Here, you will find an excellent mix of office, retail, residential, hotel, entertainment and F&B uses.

When developed in 10 to 15 years, the Jurong Gateway will provide at least:

- 500,000 sqm of office space

- 250,000 sqm of retail and entertainment space

- 2,800 hotel rooms

- 1,000 new homes